Headlines (09-11-2009)

Date: 09 November 2009 Thought for the day
 

 “The whole secret of freedom from anxiety over not having enough time lies not in working more hours, but in the proper planning of the hours.”

  — Frank Bettger

 GENERAL

 1)The first session of the newly-formed Maharashtra Assembly will begin from Monday. “All the 287 legislatures of the 288-member House will be administered oath and a new speaker will be elected during the three-day session of the 12th Assembly,” an official from CMO said after the first Cabinet meeting.
Indian Express

ECONOMY

2)Prime Minister Manmohan Singh today sent out a strong message on the need for further economic reform, particularly in the financial sector, and welcomed investment through qualified institutional investors in Indian companies. Stating that the country has been able to withstand the economic downturn, he said a gradual phaseout of the stimulus measures would take place next year. “In addition to FDI, we welcome portfolio investment in equity in Indian companies by qualified institutional investors,” Singh said in his keynote address at the inauguration of the 25th India Economic Summit, organised jointly by the World Economic Forum and the Confederation of Indian Industry, in Delhi.

 BS

 3)With the growth in industrial production moving northwards and the contraction in exports declining, the “dark clouds” over the Indian economy were disappearing, commerce minister Anand Sharma said on Sunday.FE

CORPORATE / INDUSTRY

4)RELIANCE Industries(RIL), India’s largest private sector by market capitalisation and sales is close to announcing a major overseas acquisition according to a number of people close to the development. RIL was trying to conclude the negotiations before the annual general meeting of the company on November 17 but this was far from certain, the people said. The target is most probably a part of the assets owned by the troubled petrochemical major LyondellBasell which is undergoing reorganisation under the protection of a US court.

ET

5)BUOYED by a 100% jump in sales and a 10% increase in marketshare in September-October, Bajaj Auto is aiming for a 26-27% marketshare in motorcycles in FY10. “Our overall motorcycles marketshare in FY’09 was 22%. We have clocked a robust performance so far and should achieve a marketshare of 26-27% in FY’10, Bajaj Auto’s two- wheeler division’s CEO S Sridhar said.ET

MONEY & BANKING

6)In an attempt to weed out inactive accounts and increase low-cost deposits, foreign banks are increasing the minimum balance that customers need to hold in their savings accounts.

BS

PENSION

7)The government is moving fast on pension reforms. While the finance ministry is ready to take the Pension Fund Regulatory and Development Authority(PFRDA) Bill to the Cabinet for approval this week, interim pension regulator PFRDA has drawn up a multi-pronged strategy to expand the reach of the new pension scheme(NPS).

 FE

MARKETS

8)Indian equity indices will be looking at global cues coupled with inflows of foreign funds and key economic data due next week which will guide domestic markets. Last week, despite intense volatility, markets had closed in with smart gains, following positive cues from the global markets. On Friday, the 30-share Sensex of BSE added 94.38 points or 0.59% to end the day at 16,158.28 points. The broader S&P CNX Nifty of NSE gained 30.60 points or 0.64% to close the day at 4,796.15 points. Dealers in the market also said, comments from Prime Minister Manmohan Singh, that the worst for the economy was behind and India was seeing signs of an upturn, will boost the sentiments of the market. With US markets closing with some smart gains on last Friday, benchmark indices will have some positive im- pact when it opens on Monday.

FE

9)India, China and Brazil are likely to lead the recovery of global IPO markets, says a recent Ernst and Young survey – Institutional Investor IPO. The survey said that the IPO market recovery in these countries could have started as early as in Q3-Q4 2009. BL

10)At a time when corporate India is trying hard to shed its debt burden, broking companies are witnessing a rise in their debt equity ratio. With markets having picked up and volumes surging, brokerages are going ahead with their expansion plans, hence increasing the debt on their balance-sheets.BS

MUTUAL FUNDS

11)THE rules of the game in the mutual fund industry are set to change. The Securities and Exchange Board of India(Sebi) is considering a revamp of the mutual fund business model through increased investor participation, and at the same time, reducing a single investor holding in a mutual fund scheme, in a bid to neutralise or lower the im- pact of huge outflows by a few large corporate and wealthy individuals from a scheme.

ET

12)SBI Mutual Fund emerged as the highest gainer in terms of monthly accretion with its assets growing by about Rs 3,400 crore during October. The average assets under the management of the fund house promoted by the country’s largest lender State Bank of India increased by Rs 3,449 crore in October to Rs 38,322.49 crore, ac- cording to the data released by Association of Mutual Funds in India(Amfi). DC

COMMODITIES

13)The National Multi Commodity Exchange(NMCE) has introduced eight gram gold guinea contracts, which are expected to facilitate greater trade and delivery facilities. The exchange, which has primarily dealt in agro-commodities in the past, has launched the unique retail product and it is expected to give its bullion segment a huge boost.

BL

REAL ESTATE

14)Improved market conditions and better end-buyer sentiments are finally ensuring a hiring spree for top builders across metros. Real estate players have started hiring across-the-board, from top-level executives, including, CEOs and COOs to middle-level executives in execution and sales departments.

 FE
COMMUNICATIONS

15)FOR the first time ever, the government’s revenues from the telecom sector has dipped over the last six months despite the country adding 80 million new customers during this period. This will also make it difficult for the government to cut levies despite mounting demand from the industry for some sort of support following a rapid drop in tariffs in the recent months due to intense competition. According to data compiled by sector regulator Trai, the industry’s gross re- venues(excluding fixedlines) for the quarter-ended September 2009 was Rs 38,755 crore. This was lower then the sector’s revenues in December 2008 when it recorded Rs 39,408 crore despite having 125 million fewer customers then. 

ET
INFORMATION TECHNOLOGY 

16)The domestic information technology (IT) services market is no more a low-profit option and entry of global players in this segment is a testimony to its growing maturity and lucrativeness. Earlier, the domestic IT services market was characterised as ‘where you would pay for the hardware but get the services for free’. This has changed over the last few years with the profit margins in some segments comparable to the developed markets. 

ET

17)Mahindra Satyam has added 35 new clients since April 13 and lost just a handful, said the firm’s chief executive, adding that the worst was behind it and that spending by key customer groups was improving. 

BS
INTERNATIONAL 

18)THE finance ministers of G-20 nations have agreed on a timetable for the new framework for balanced and sustainable growth of the global economy, but made little progress on financing efforts to reduce global warming. The world’s leading developed and emerging economies committed to have peer review and “more specific policy recommendations” in place by next November. 

ET

19)The US House of Representives on Sunday narrowly approved a land- mark health care Bill aimed at guaranteeing coverage to almost all Americans and placing new curbs on the insurance industry, giving a boost to the President, Mr Barack Obama. 

BL 

FOR MORE INFORMATION, PLEASE BROWSE THROUGH THE FOLLOWING SITES. 

Karvy Consultants Ltd www.karvy.com
 www.khojhyderabad.com
 www.indiacorporateadvisor.com
 www.karvycomtrade.com (Commodities)
KARVY Global Services Ltd www.KARVYGlobal.com
KARVY Realty (India) Limited www.karvyrealty.com
Economic Times www.economictimes.com
The Financial Express www.financialexpress.com
Business Line www.businessline.in
Business Standard www.business-standard.com
The Times of India www.timesofindia.com
The Hindu www.hindu.com
Deccan Chronicle www.deccan.com
The New Indian Express www.newindpress.com 

 

 

 

Support & Resistances for 10-11-2009

Support & Resistances for 10-11-2009
 
    SENSEX NIFTY FUTURE (Novt2009)
    BANKNIFTY NIFTY
09/11/2009 Open  16190.79 4796.15 8730.00 4819.85
High 16517.42 4905.25 9143.00 4909.70
Low 16147.21 4789.90 8730.00 4780.15
Close 16498.72 4898.40 9124.00 4903.15
LTP 16498.72 4898.40 9135.00 4906.10
Range 370.21 115.35 413.00 129.55
10/11/2009 R3 17128.20 5095.22 9825.00 5123.43
R2 16757.99 4979.87 9412.00 4993.88
R1 16628.36 4939.13 9268.00 4948.52
PP 16387.78 4864.52 8999.00 4864.33
S1 16258.15 4823.78 8855.00 4818.97
S2 16017.57 4749.17 8586.00 4734.78
S3 15647.36 4633.82 8173.00 4605.23
 
R1/R2/R3: Resistance
PP: Pivot Point
S1/S2/S3: Supports

Pivot Point 10-11-2009

10/11/2009 Pivot Point NSE
Symbol   LTP S3 S2 S1 Pivot Point R1 R2 R3
ABB 752.10 722.60 737.50 744.80 752.40 759.70 767.30 782.20
ACC 719.65 687.95 702.35 711.00 716.75 725.40 731.15 745.55
AMBUJACEM 82.45 77.30 80.15 81.30 83.00 84.15 85.85 88.70
AXISBANK 998.00 793.83 883.33 940.67 972.83 1030.17 1062.33 1151.83
BHARTIARTL 307.55 273.42 292.92 300.23 312.42 319.73 331.92 351.42
BHEL 2,243.80 2086.93 2155.93 2199.87 2224.93 2268.87 2293.93 2362.93
BPCL 518.25 489.72 502.42 510.33 515.12 523.03 527.82 540.52
CAIRN 279.35 244.12 259.92 269.63 275.72 285.43 291.52 307.32
CIPLA 294.40 276.63 286.13 290.27 295.63 299.77 305.13 314.63
DLF 390.05 338.17 361.82 375.93 385.47 399.58 409.12 432.77
GAIL 374.65 356.67 364.82 369.73 372.97 377.88 381.12 389.27
GRASIM 2,235.10 1973.53 2088.83 2161.97 2204.13 2277.27 2319.43 2434.73
HCLTECH 312.05 279.13 294.18 303.12 309.23 318.17 324.28 339.33
HDFCBANK 1,707.45 1545.82 1615.82 1661.63 1685.82 1731.63 1755.82 1825.82
HDFC 2,772.60 2504.90 2624.60 2698.60 2744.30 2818.30 2864.00 2983.70
HEROHONDA 1,554.30 1444.77 1494.77 1524.53 1544.77 1574.53 1594.77 1644.77
HINDALCO 129.45 117.77 123.02 126.23 128.27 131.48 133.52 138.77
HINDUNILVR 271.40 259.58 265.53 268.47 271.48 274.42 277.43 283.38
ICICIBANK 888.50 779.40 827.30 857.90 875.20 905.80 923.10 971.00
IDEA 50.60 46.82 48.67 49.63 50.52 51.48 52.37 54.22
IDFC 161.85 151.43 155.98 158.92 160.53 163.47 165.08 169.63
INFOSYSTCH 2,232.10 2144.03 2184.03 2208.07 2224.03 2248.07 2264.03 2304.03
ITC 259.05 233.98 244.98 252.02 255.98 263.02 266.98 277.98
JINDALSTEL 674.15 623.33 646.38 660.27 669.43 683.32 692.48 715.53
JPASSOCIAT 229.50 214.42 221.67 225.58 228.92 232.83 236.17 243.42
LT 1,601.45 1500.32 1544.82 1573.13 1589.32 1617.63 1633.82 1678.32
M&M 1,003.65 878.72 934.62 969.13 990.52 1025.03 1046.42 1102.32
MARUTI 1,484.25 1381.65 1428.35 1456.30 1475.05 1503.00 1521.75 1568.45
NTPC 211.10 206.00 208.50 209.80 211.00 212.30 213.50 216.00
ONGC 1,166.80 1106.60 1133.60 1150.20 1160.60 1177.20 1187.60 1214.60
PNB 908.25 810.75 854.35 881.30 897.95 924.90 941.55 985.15
POWERGRID 107.35 101.32 104.02 105.68 106.72 108.38 109.42 112.12
RANBAXY 415.85 384.13 400.88 408.37 417.63 425.12 434.38 451.13
RCOM 174.35 156.52 165.72 170.03 174.92 179.23 184.12 193.32
RELCAPITAL 809.40 729.70 765.40 787.40 801.10 823.10 836.80 872.50
RELIANCE 2,024.40 1865.20 1935.60 1980.00 2006.00 2050.40 2076.40 2146.80
RELINFRA 1,117.05 1006.22 1055.42 1086.23 1104.62 1135.43 1153.82 1203.02
RPOWER 145.10 137.53 141.03 143.07 144.53 146.57 148.03 151.53
SAIL 173.80 152.85 162.10 167.95 171.35 177.20 180.60 189.85
SBIN 2,318.20 2054.40 2169.40 2243.80 2284.40 2358.80 2399.40 2514.40
SIEMENS 530.90 498.52 513.47 522.18 528.42 537.13 543.37 558.32
STER 800.55 739.42 770.72 785.63 802.02 816.93 833.32 864.62
SUNPHARMA 1,408.30 1361.32 1386.17 1397.23 1411.02 1422.08 1435.87 1460.72
SUZLON 66.35 55.77 60.72 63.53 65.67 68.48 70.62 75.57
TATAMOTORS 580.70 539.77 557.97 569.33 576.17 587.53 594.37 612.57
TATAPOWER 1,319.50 1197.17 1251.17 1285.33 1305.17 1339.33 1359.17 1413.17
TATASTEEL 509.20 484.08 495.93 502.57 507.78 514.42 519.63 531.48
TCS 622.75 595.92 608.92 615.83 621.92 628.83 634.92 647.92
UNITECH 88.50 75.57 81.37 84.93 87.17 90.73 92.97 98.77
WIPRO 603.10 580.43 590.83 596.97 601.23 607.37 611.63 622.03

FOR THE COMING WEEK (09-13, Nov 2009)

FOR THE COMING WEEK:

Indices are likely to face resistance at the 16350-16500-16650/4850-4880-4900 levels.

Any surge in the indices may see profit taking around the indicated resistances.

Downside supports are placed at the 16050-15900-15700/4750-4700-4600 levels.

Depending on the global cues we expect to see fresh buying around the mentioned supports and the trades could be influenced by strong moves sectorally.

Any move until the above mentioned resistances shall be utilized to exit from long positions and look out for a sustainable move.

However, looking at the broader scenario we advise investors to play the broad range movement with caution and strict stop losses.

FOR THE DAY (09-11-2009)

FOR THE DAY:

Domestic markets are likely to open on a flat-to- positive note following the positive Global indices.

Traders are advised to trade long if Nifty holds 4800, else from 4770 levels with a stop loss placed at 4750 for targets of 4825/4860.

Investors are advised to remain cautious and play levels specific as higher levels may continue to witness profit taking.